Hey Niche Publishers! Who would like to add $378K to their annual revenue?
Rachel Winner-Eberhardt, Advertising Director of Pittsburgh Magazine, posed just this question to attendees at our Super Niche event in Nashville in March. She shared tips on how her magazine maximizes their digital space. (These ideas can easily work for B2B and Associations too.)
Here are 3 ideas to add more big digital bucks to YOUR bottom line:
Idea#1: Sponsored content
Sponsored content is native advertising, but it’s not an ad. As a longer-form, engaging, full story, it encourages the audience to spend as much time with the content as possible. The most successful sponsored content provides useful value to its readers, either by educating or entertaining. So look beyond the typical advertising space and press release and get creative! The opportunities are out there.
Revenue Results: $7,500 per month, $90,000 per year (for one contract that’s been running since 2011.)
Idea #2: Channel sponsorships
Every drop-down category on your website is an opportunity for sponsorship! For example, Pittsburgh Magazine has sponsored channels for Eat & Drink, Culture, Best of, Sports, Weddings and more. For B2B and Association magazines, don’t waste this opportunity to offer a channel sponsorship for much more money than by just running an “industry partners” banner along the bottom of the page.
Revenue Results: 13 channels, average $1,500 per month per channel, averages $19,500 per month which adds up to $234,000 per year!
Idea #3: Digital directories:
It’s not a budget-buster or a big strain on staff. Whether you are a City & Regional, or a B2B or Association magazine, the revenue opportunity can be huge. Digital directories/ resource guides for weddings, best doctors, real estate and more work for Consumer magazines. B2B and Associations can offer guides for top leaders, innovation in industry, technology—the sky is the limit!
Revenue results: $150 per month per listing for 30 clients results in $4,500 per month, totaling $54,000 a year! Plus, since digital directories are so economical, they are the perfect gateway to future business with brand new clients.
So to sum up, we ask you–who wants to double digital revenues this year??
P.S. If you want to learn more about taking your magazine to the next level, join us at the Niche B2B CEO Summit in Denver, June 19-20, at the Brown Palace Hotel and Spa.
About this blogger: Diana Landau is the Content Wrangler for Niche Media. A former sales director and corporate marketing hack, she has now found nirvana in writing and wrangling quality content. Diana is a food, wine, art and SF Giants enthusiast…who sometimes gets carried away.
Niche Media has the best events, education, and training in media! Our super niched-out events & content give target-audience publishers in the B2C, hobbyist, B2B, city & regional, and association markets the tools they need to build revenue, audience, and more.